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Absolutely right, the tokens are just a stepping stone to getting the [distributed] app off the ground. It's a great model! If you believe in the utility of s

by sova 9y ago

Absolutely right, the tokens are just a stepping stone to getting the [distributed] app off the ground. It's a great model! If you believe in the utility of something you can fund it very early on and reap great rewards, or at least root great endeavors on.

Karrot_Kream 9y ago
How so? Can't you just do the same thing staking Ether instead of yet another ERC20 token?
- colecut 9y ago
  Yes agreed, in several cases this summer I thought I was doing well with ICOs until I did the math and realized I would have done at least as well by just holding the ETH.
  - kukabynd 9y ago
    And this here is why we’re in a bubble.
    - colecut 9y ago
      I don't really follow your logic, considering I was referring to over 6 months ago. But I do agree we're in a bubble.
- vehementi 9y ago
  If the owners do that, they don't get to flip the 70% of coins they withheld after the price inflates.
bpicolo 9y ago
I somewhat fail to see how they could ever serve as a real payment utility. If they have some actual application utility, then you'd have to dynamically adjust costs based on the speculative cost of acquisition so your application costs aren't wild, and then it's still nothing but a speculation-driven currency. Isn't that just nuts? It's a built-in catch-22
- sova 9y ago
  Na you're looking at it as if you're moving currency from some valued mint to a non-valued mint and that's not the case, we're transforming capital from one ecosystem to another, just like Britain Pounds Sterling to the USD, when you move into the new token ecosystem you now are presented with new ways to use your token. MOST of these systems will not create _value innovation_ but some select systems will and those tokens will actually gain in value faster than the backbone currency [meaning the ivy of your token could grow faster than the tree of ETH/BTC because your innovation has value in addition to being a useful transaction vehicle].

by sova 9y ago

Karrot_Kream 9y ago

How so? Can't you just do the same thing staking Ether instead of yet another ERC20 token?

colecut 9y ago
Yes agreed, in several cases this summer I thought I was doing well with ICOs until I did the math and realized I would have done at least as well by just holding the ETH.
- kukabynd 9y ago
  And this here is why we’re in a bubble.
  - colecut 9y ago
    I don't really follow your logic, considering I was referring to over 6 months ago. But I do agree we're in a bubble.
vehementi 9y ago
If the owners do that, they don't get to flip the 70% of coins they withheld after the price inflates.

bpicolo 9y ago

I somewhat fail to see how they could ever serve as a real payment utility. If they have some actual application utility, then you'd have to dynamically adjust costs based on the speculative cost of acquisition so your application costs aren't wild, and then it's still nothing but a speculation-driven currency. Isn't that just nuts? It's a built-in catch-22

sova 9y ago
Na you're looking at it as if you're moving currency from some valued mint to a non-valued mint and that's not the case, we're transforming capital from one ecosystem to another, just like Britain Pounds Sterling to the USD, when you move into the new token ecosystem you now are presented with new ways to use your token. MOST of these systems will not create _value innovation_ but some select systems will and those tokens will actually gain in value faster than the backbone currency [meaning the ivy of your token could grow faster than the tree of ETH/BTC because your innovation has value in addition to being a useful transaction vehicle].